Lending Club is an online financial community that connects creditworthy borrowers to investors so both benefit financially – providing an alternative to bank lending.
General company ifno:
Year of founded: 2006
Zip Code: 94105
Employees: 501-1,000
In sector: Finance & Investment
Revenue Sources: Not reported by company
Social Impact:
Description:
Lending Club was founded with the mission to create a more efficient alternative to the traditional banking system that provides lower rates to borrowers and better returns to investors. The company operates an online credit marketplace where investors provide loans to creditworthy borrowers in exchange for the interest income. Lending Club leverages technology to provide a simple, cost-efficient experience generating value that it passes on to customers. As of December 2013, more than $3 billion in loans have been issued to borrowers and nearly $300 million in interest payments have been returned to investors.
Financial Info: